Diamond Triumph Auto Glass, Inc. Announces Q3 2000 Results
13 November 2000
Diamond Triumph Auto Glass, Inc. Announces Third Quarter 2000 ResultsKINGSTON, Pa., Nov. 10 Diamond Triumph Auto Glass, Inc. announced today that net sales for the nine months ended September 30, 2000 increased $13.8 million, or 10.7%, to $142.4 million as compared to $128.6 million for the nine months ended September 30, 1999. Net sales for the third quarter ended September 30, 2000 increased by $4.8 million, or 11.0%, to $48.6 million from $43.8 million for the third quarter of 1999. EBITDA for the first nine months of 2000 increased by $2.7 million, or 18.1%, to $17.6 million from $14.9 million for the first nine months of 1999. EBITDA for the third quarter of 2000 increased $1.2 million, or 28.6%, to $5.4 million from $4.2 million for the third quarter of 1999. Diamond Triumph Auto Glass, Inc. ($ in Millions) Nine Months Ended Three Months Ended September 30, September 30, 2000 1999 2000 1999 Nine Months Three Months (unaudited) (unaudited) Net Sales $142.4 $128.6 $48.6 $43.8 Cost of Sales 44.1 39.7 14.8 13.6 Gross Profit 98.3 88.9 33.8 30.2 Operating Expenses 82.9 75.9 29.1 26.7 Income From Operations $15.4 $13.0 $4.7 $3.5 Net Income Before Extraordinary Item $4.5 $2.9 $1.3 $0.4 Extraordinary Loss on Extinguishment of Debt, Net of Taxes 0.5 0.0 0.0 0.0 Net Income $4.0 $2.9 $1.3 $0.4 EBITDA (A) $17.6 $14.9 $5.4 $4.2 Cash Interest $7.4 $7.6 $2.3 $2.5 Total Long-Term Debt $100.0 $107.5 $100.0 $107.5 (A) EBITDA represents income before taxes, interest expense, depreciation and amortization expense.